The highly anticipated Only Watch 2023 auction, which was set to captivate the world of horology enthusiasts and philanthropists, has been indefinitely postponed to an unspecified date in 2024. The decision arrives amid mounting concerns about the transparency and financial management of the Association Monégasque contre les Myopathies (AMM), the organization behind the esteemed auction dedicated to supporting Duchenne Muscular Dystrophy research.
Troubling questions have surfaced regarding the handling of the substantial funds raised since the auction’s inception in 2005, raising doubts about the charitable integrity of Only Watch. While the recent release of select financial details by AMM aimed to address these concerns, it has inadvertently fueled further skepticism, leaving the fate of the auction in uncertainty.
The sudden withdrawal of Audemars Piguet from the auction, coupled with looming uncertainties surrounding the participation of other prominent brands like Patek Philippe, has significantly rattled the foundations of Only Watch, leading to the decision to defer the event.
Acknowledging the urgency for enhanced transparency and accountability, the organizers have pledged to implement comprehensive restructuring measures and a new auditing process. This move aims to offer stakeholders a clearer understanding of the fund allocation and management strategies employed by AMM, seeking to regain trust and ensure the integrity of the charity auction.
Despite the challenges and growing scrutiny, the commitment of the parties involved in the mission to combat Duchenne muscular dystrophy remains unwavering. Only Watch and AMM are resolute in their dedication to preserving the auction’s altruistic essence, emphasizing their unwavering commitment to advancing research and treatment for those affected by the debilitating condition.
As the industry eagerly awaits further updates and the implementation of the proposed restructuring, the forthcoming period is crucial for the organizers to establish robust frameworks that uphold the highest standards of transparency and stewardship, instilling confidence among supporters and participants alike. Details regarding the restructuring plans and the rescheduled date for the auction are anticipated to be unveiled in the upcoming months, marking a pivotal chapter in the evolution of Only Watch’s philanthropic endeavors.
